How much of Coventry’s loss is insured?

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copyright the Chronicle May 24, 2017

by Elizabeth Trail

 

COVENTRY — How much of this town’s missing money is covered by its insurance policy with the Vermont League of Cities and Towns (VLTC)?

Will VLTC continue to insure the financial performance of town Treasurer Cynthia Diaz, or will she be compelled to shop elsewhere for such coverage, at any price?

And what would happen if Ms. Diaz can’t find affordable insurance within ten days?

Those were the questions floating around Coventry on Tuesday afternoon. Some of them should be resolved at a special meeting of the select board on Wednesday, May 24, at 3 p.m.

Jeff Graham, a forensic auditor, reported in January that he could not account for $876,000 of town funds after completing an audit in January.

Kelly Kindestin, property and casualty claims manager for VLCT, met with Selectman Scott Morley, town attorney Paul Gillies, and town administrator Amanda Carlson on Tuesday afternoon.

What Ms. Kindestin told the three is still under wraps.

“There is a special meeting scheduled for tomorrow,” Mr. Morley said in an e-mail late Tuesday afternoon. “It is best to wait until then to discuss.”

At Monday night’s meeting of the select board there was speculation that, in addition to how much VLCT would be paying on the claim, the board might hear whether VLCT plans to continue to insure Ms. Diaz.

Town treasurers in Vermont must

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